Monday, September 15, 2008

Jamie Gorelick, Mistress of Disaster

It's not often that one person plays key roles in two -- count 'em, two -- trillion-dollar disasters. Welcome, my friends, to the world of well-connected Democrat Jamie Gorelick.

In 2004, observers were "astonished" to discover that a key member of the 9/11 Commission had a fatal conflict-of-interest. Jamie Gorelick had served as a Deputy Attorney General under Bill Clinton from 1994 to 1997.

It was later revealed that Gorelick had established a pre-Patriot Act "wall" that prevented the foreign intelligence and criminal investigative communities from collaborating.

At the time, an enraged FBI investigator wrote a memo to headquarters which included the sentence, 'Whatever has happened to this -- someday someone will die -- and wall or not -- the public will not understand why we were not more effective..."

Gorelick's "wall" wrapped a blindfold around America just when it needed its vision to stop the attacks that killed thousands and which sucked a half a trillion dollars out of the economy.

Where did Gorelick turn up next?

Though she had no training or experience in finance, Gorelick was appointed the Vice Chairman of Fannie Mae and served in the role from 1997 to 2003. During that six-year period, she earned over $26 million.

During Gorelick's tenure, FNMA suffered a $10 billion accounting scandal, an ominous harbinger of the firm's looming troubles. One of the falsified transactions helped FNMA hit earnings targets for 1998, which triggered bonuses for top executives including nearly $800,000 to Gorelick.

In 2002 Business Week interviewed Gorelick concerning the health of FNMA. She responded, "We believe we are managed safely. We are very pleased that Moody's gave us an A-minus in the area of bank financial strength -- without a reference to the government in any way. Fannie Mae is among the handful of top-quality institutions."

Less than a year later regulators "accused Fannie Mae of improper accounting to the tune of $9 billion in unrecorded losses."

Today, of course, FNMA is on taxpayer-funded life support, currently trading at 61 cents a share. And because it was thought to have been "managed safely" (Gorelick's words), many top-flight financial services companies held its stock.

Last week it was revealed that top insurer AIG was teetering on the precipice of disaster because, in part, it held $600 million in Fannie and Freddie. Roughly $4 billion in those stocks are held by insurers, according to rating agency A.M. Best.

Put simply, FNMA's collapse helped touch off the current swath of instability in the financial system.

It's not often that one person plays such a key role in two unmitigated disasters.

Democrat Jamie Gorelick is just such a person; that is why she has earned her nom de guerre "The Mistress of Disaster".

What do you call someone with a Midas Touch, only instead of gold everything they touch turns to s***? That's what Gorelick's got.

If I was one of her associates at the law firm of WilmerHale, I'd keep my head on a frickin' swivel.

Update: Just Barking Mad adds even more foaming-at-the-mouth-level anger to the story:

In 1999 Fannie Mae announced that it would purchase $10B in CRA loans. In 2001 they reached that target as Ms. Gorelick announced that they would roll these into special security issues...

Republicans seemed to be in shock in 2008 and refused to generally campaign aggressively on how the CRA/Fannie Mae one-two punch set up the (duh) subprime mortgage crisis, which triggered the recession.

I hope that 2010-2012 finds the party on the attack on this. The Financial Reform bill is an excellent vehicle. Amendments to abolish CRA? An outside audit of Fannie Mae?

Prior to her distruction in the early 2000's she made a name for herself as the Deputy Attorney General under Janet Reno. She was in charge of the OK Federal building bombing investigation. The 1st 24 hours had reports of a middle eastern looking "John Doe 2". That report and all film from various points around the Murray building has fallen into a rabbit hole the day she was put in charge. See Jayna Davis' "The 3rd Terrorist" for the story. Next time in charge of investigation was for the TWA 93(?) explosion out of New Jersey in the late 90's. Although more than 3000 people reported seeing a missle or plume, many of them ex or current military, ex or current police, and ex or current fire dept, none were called to testify. To this day, the official report of cause is undeterminded.

WHY SHOULD THIS SURPRISE ANYONE? THIS WOMAN CLEARLY IS PART OF THE GLOBAL ELITISTS, CALLED THE "BILDEBURG GROUP", WHO CONTROL EVERY THING IS THIS WORLD! THESE BASTARDS, ALSO KNOWN AS THE CENTRAL BANKERS DON'T CARE ABOUT ANYONE, AND SCREW WHOEVER THEY CAN, WHEN THEY CAN!

Thank you for this post. Jamie is well known for her bonafides _ That's why she is so well placed. It's a miracle we survive _Under/ the control and contempt of these evil doers. My lot is a simple one, but you have done yeoman's work here.... so many people are discovering the lies that have covered us up. We are beginning to understand and we are learning there is the real_ The Truth

I personally hold Jamie Gorelick responsible for turning Bin Laden's plan into a reality. Gorelick is part and parcel, one of those in the Clinton administration who had such little regard for the people in the FBI and the CIA that she came up with this utterly insane edict. And where was Clinton to stop this insanity? He was lying under oath as his depositions.... In my eyes, Jamie Gorelick is a walking, living, breathing disaster ready to happen. Of course it makes sense she had a hand into Fanny Mae and FReddie Mac, it makes sense!

Truly frightening,Why has this woman remained in positions of power,I don't get it....There is no statue of limitations on murder.The 3000 people who died on 9/11 need to be layed in this woman's lap,Period!

Do not forget that Ms. Jamie Gorelick was also the CONTROL POINT for the TWA 800 disaster blackout.- she controlled the information that the FBI produced keeping important info from the public. She was the one who buried some 200+ witness reports of a rocket hitting the plane. Further she made witnesses 'hostile' and made some She was the one.

Finally, I am not alone in wondering where Gorelick came from. Lok a little further back and you can find her fingerprints on the Waco inferno that in turn led to McVeigh and the bombing in Oklahoma City.

There is hardly a national disaster in this country in the past twenty years in which Gorelick had no part.

THERE IS A THIRD ASPECT TO THE GORELICK DISASTERS.When the Clinton Administration gave sharks teeth to the Community Reinvestment act, banks were unwilling to participate in the loose loan regulations. As Janet Reno's #1, Jamie Gorelick issued the edict that any banker unwilling to lend money to unqualified home buyers and follow the new racial quotas would be indicted CRIMINALLY by the Clinton Justice Department. THAT is why all these banks participated in the "Liar loans."

Jamie Gorelick is also attorney to Ivanka Trump and her husband Jared Kushner. I heard this from journalist Lee Stranahan in this video: http://www.youtube.com/watch?v=xkpmpHjpXRk (jump to 18 minute mark)